Top management pay: Impact of power and influence
January 1998
Article
pp 975-1003.
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Examines variations in executive pay as a function of chief executive officer (CEO) power. Assumption that CEO optimize their pay conditional upon their ability to shape decisions that favor their interests; Inference of power from overt manifestations and covert sources; Variables that magnify or moderate the effect of equity holdings on compensation.
Keywords
- corporate governance
- management
- power
- wages
- executives (salaries)
- agency theory
- executive compensation
- chief-executive officers
- shareholdings
